Chainlink (LINK) is currently trading at $9.47, reflecting a 24-hour change of -3.42%. The asset experienced a daily range of 0.64%, with a high of $10.06 and a low of $9.42, indicating a tightening price movement amidst recent volatility.

The trading volume of 550,640,302 LINK suggests substantial market activity, contributing to a volume-to-market cap ratio of 8.21%. Short-term moving averages indicate bearish momentum, with the 8-hour and 13-hour SMAs at $9.74 and $9.83, down 2.81% and 3.65%, respectively, further affirming the downward trend.

Momentum indicators show significant bearish sentiment; the 1-hour RSI is at a critically low 12, while the 7-day RSI is at 35, nearing oversold territory. Over the past week, LINK has decreased by 17.20%, with more substantial declines of 31.20% and 28.66% over the past 14 and 30 days, respectively, highlighting persistent downward pressure.

Considering the technical indicators and recent price performance, LINK remains significantly below its all-time high of $52.70 achieved in May 2021. The ongoing downtrend, coupled with weak RSI readings and negative price changes across multiple timeframes, suggests a lack of bullish momentum in the short to medium term.

Based on the current market data and technical analysis, I recommend a Sell rating for Chainlink (LINK). The persistent bearish trend and weak momentum indicators indicate further price declines are likely, making it prudent to exit positions rather than accumulate at this stage.